I pretty much agree with everything that was said above, so I will try not to be repetitive.
Instead, I want to point out that college football has destroyed the dreams and opportunities of many athletes from other sports. The majority of athletes in the US do not play college football, and for them, the idea of receiving a scholarship or even a commitment to play at the college level is the pinnacle of achievement. Male athletes are particularly affected, but there are knock-on effects for female athletes as well, such as smaller athletic budgets for other sports. Men's volleyball and soccer are just two examples of sports that are suffering because of college football and Title IX. There are many others facing this issue, and countless more that will never be considered for the future, all because of college football and its 85 scholarships. Before you say football pays for everything else, I will point out that very few schools actually make money from their football programs. While it does generate a lot of donations, the vast majority of those donations are specifically earmarked for football.
We have all overlooked this issue because of our love for the sport and our desire to see our school win on the largest stages. However, I personally find it harder to overlook now that football has become a paid league while still being a massive drain on resources.
P.S. I understand that all athletes can receive NIL money, although very few do. Basketball players, in particular, do very well in this regard, but their small rosters do not harm other sports.